Robust Financial Performance
The National Stock Exchange (NSE) has achieved a significant milestone, with its consolidated profit after tax exceeding Rs 8,300 crore in fiscal 2023-2024. Despite facing a 90 per cent increase in total expenses year-on-year to Rs 5,350 crore, compared to Rs 2,812 crore in FY23, the exchange managed to surpass the USD 1 billion profit mark.
Bonus Shares and Dividend Announcements
On 3rd May 2024, the company recommended issuing 4 bonus shares for every existing 1 share held. Additionally, the board proposed a dividend of Rs 90 per share (pre-bonus) for the fiscal year ended 2023-24, totalling a payout of Rs 4,455 crore.
Contribution to the Exchequer
During FY24, the NSE significantly contributed to the exchequer, totalling Rs 43,514 crore.
This contribution comprised:
- Securities Transaction Tax (STT): Rs 34,381 crore
- Cash market segment: 60%
- Equity derivatives segment: 40%
- Income tax: Rs 3,275 crore
- Stamp duty: Rs 2,833 crore
- Goods and Services Tax (GST): Rs 1,868 crore
- Securities and Exchange Board of India (SEBI) charges: Rs 1,157 crore
Financial Standing and Expenses
As of March 31, 2024, NSE’s net worth stood at Rs 23,974 crore. In Q4FY24, total expenses amounted to Rs 1,926 crore, with 46 per cent allocated towards SEBI regulatory fees, an additional contribution to Core Settlement Guarantee Fund (SGF), and a contribution to the Investor Protection Fund Trust (IPFT). The core SGF corpus as of March 31, 2024, reached Rs 8,819 crore.
Market Performance
The cash market reported a significant increase in average daily traded volume (ADTV), jumping 127 per cent year-on-year to Rs 1.11 lakh crore in the quarter ended March 2024. Similarly, ADTV for equity futures rose by 60 per cent to Rs 1.79 lakh crore, while ADTVs for equity options (premium value) climbed 27 per cent to Rs 75,572 crore in Q4FY24.
In conclusion, NSE’s remarkable fiscal 2023-2024 performance underscores its resilience and robustness in navigating challenging market conditions. With a strong financial standing, significant contributions to the exchequer, and impressive market performance, the exchange plays a pivotal role in India’s financial landscape.
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